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Deputy Chairman of Azergold’s Board Ogtay Mammadov made the remarks during the media tour aimed at reviewing the work conducted at the Chovdar field.
“Since early 2018, 33,000 ounces of gold have been produced,” he said, adding this figure is planned to be increased up to 45,000 ounces of gold till the end of 2018, which is 33 percent more than last year.
Mammadov went on to say that 93,000 ounces of gold have been extracted in Azerbaijan so far.
The Chovdar ore field is located in northern Dashkasan region, which includes special and complex gold fields.
Further, Mammadov noted that geophysical work has been completed on an area of 10 square kilometers in the northern part of the Azerbaijan’s Chovdar gold deposit.
“Next year, geophysical work will be carried out on an area of 11-12 square kilometers on the slopes of Mount Kapaz. Presently, drilling operations are carried out at three places. Wells are being drilled in the southern part of Goygol region. Work began in July and will continue until the end of 2018,” Mammadov said.
The deputy chairman underlined that 32 wells were drilled to confirm Chovdar's underground reserves, further saying that the feasibility study for the project will be completed in the first quarter of 2019.
AzerGold CJSC started operating in July, 2016 and is engaged in studying, research, investigation, management of deposits of precious and non-ferrous metals, their production, processing and sale, and also application of new technologies in this sphere, improvement of material and technical base and implementation of other work related to development of this sphere.
Azerbaijan has its rich gold deposits. Gold mostly is produced in Dashkasan (AzerGold CJSC) and in Gadabay (Anglo-Asian Mining, Britain) regions of the country.
About 900 fields were registered in Azerbaijan’s state and territorial balance of reserves of mineral resources. The Ministry for Ecology and Natural Recourses estimates that the country is able to produce about 10-15 tons of gold per year.